Hardman Johnston Global Advisors LLC Reduces Stake in FMC Co.

Hardman Johnston Global Advisors LLC has decreased its investment in FMC Co. (NYSE:FMC - Free Report) by 5.2% during the third quarter, as indicated in their latest filing with the Securities and Exchange Commission. After selling 11,525 shares, the fund now holds 210,747 shares in the basic materials company. The value of their stake is approximately $13,897,000, representing about 0.17% of FMC.

Investor Actions

Recent shifts in ownership have also been noted from other institutional investors and hedge funds regarding FMC. For instance, Dark Forest Capital Management LP increased its position by 3.1% during the second quarter, now possessing 6,465 shares valued at $372,000 after buying 192 more shares. Similarly, HB Wealth Management LLC raised its stake by 3.8%, ending up with 5,649 shares worth $325,000 after acquiring an extra 208 shares. CreativeOne Wealth LLC also expanded its holdings by 6.7% in the first quarter, holding 3,926 shares valued at $250,000 after purchasing an additional 246 shares. UMB Bank N.A. made a significant increase in its position by 56.9% during the second quarter, owning 678 shares worth $39,000 after buying 246 shares. Additionally, Benjamin Edwards Inc. grew its stake in FMC by 24.3%, now holding 1,326 shares valued at $76,000 after a purchase of 259 shares. Collectively, institutional investors and hedge funds control 91.86% of FMC's stock.

Current Stock Insights

On Wednesday, FMC stock opened at $63.63. The company has seen a one-year low of $49.49 and a high of $68.72. With a market capitalization of $7.94 billion, the price-to-earnings ratio is at 5.48, and the PEG ratio stands at 1.66, while its beta is 0.85. Currently, the fifty-day moving average price is $63.15 and the two-hundred day moving average is $61.04. The company has a current ratio of 1.48, a quick ratio of 1.09, and a debt-to-equity ratio of 0.65.

Recent Earnings Report

FMC recently reported its financial results for the quarter ending on October 29th. The basic materials company recorded earnings per share (EPS) of $0.69, exceeding the consensus estimates of $0.49 by $0.20. The company reported revenues of $1.07 billion, which was higher than analysts' expectations of $1.04 billion. FMC's net profit margin stands at 34.93%, with a return on equity of 7.68%. Compared to the same quarter in the previous year, revenue increased by 8.5%. In the prior year, the EPS was $0.44. Market analysts forecast that FMC Co. will post an EPS of 3.35 for the current fiscal year.

Analyst Ratings

Various brokerages have recently issued their ratings on FMC. Mizuho raised the price target for FMC from $64.00 to $70.00 and maintained a "neutral" rating according to a research report issued on November 1st. Likewise, JPMorgan Chase & Co. increased their target from $50.00 to $59.00, also giving it a "neutral" rating. However, Wells Fargo & Company decreased their target price from $68.00 to $62.00, assigning an "equal weight" rating. Citigroup initiated coverage with a "neutral" rating, setting a price target of $67.00. BMO Capital Markets lifted their price objective from $60.00 to $65.00, suggesting a "market perform" rating. Presently, one analyst rates the stock as a sell, ten as hold, four as buy, and one as strong buy. According to MarketBeat, FMC holds an average rating of "Hold" with an average price target of $68.00.

About FMC Corporation

FMC Corporation operates primarily in agricultural sciences, providing products for crop protection, plant health, and professional pest and turf management. The company develops, markets, and sells a variety of crop protection chemicals, including insecticides, herbicides, and fungicides. Additionally, they offer biological products, crop nutrition solutions, and seed treatment options aimed at enhancing crop yield and quality while controlling pests and diseases.

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